REG - Taylor Maritime Taylor Maritime -TMI - Dividend Currency Election

Taylor Maritime InvestmentsAnnouncement

25/05/2022 11:45

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RNS Number : 7841M  Taylor Maritime Investments Limited  25 May 2022

25 May 2022

 

Taylor Maritime Investments Limited

(the "Company")

 

Dividend Currency Election

 

An announcement was made on 6 May 2022 regarding the dividend to be paid on 10
June 2022 and the option for shareholders to elect to receive this in sterling
rather than US dollars.

 

The dividend rate per share to be used to pay shareholders who elected to
receive their dividend in sterling will be 2.556341 pence per share (3.22
cents per share converted into sterling using an FX rate of 1.259613).

 

ENDS

 

For further information, please contact:

 

 Taylor Maritime Investments Limited  IR@tminvestments.com (mailto:IR@tminvestments.com)

 Edward Buttery

 Alexander Slee

 Jefferies International Limited      +44 20 7029 8000

 Investment Banking

 Stuart Klein

 Gaudi Le Roux

 Sector coverage

 Doug Mavrinac

 Hugh Eden

 Montfort Communications              TMI@montfort.london (mailto:TMI@montfort.london)

 Alison Allfrey

 George Morris Seers

 

Notes to editors

 

About the Company

Taylor Maritime Investments Limited is a recently established, internally
managed investment company listed on the Premium Segment of the Official List
and traded on the Main Market of the London Stock Exchange. The Company
invests in a diversified portfolio of vessels which are primarily second-hand
and which, historically, have demonstrated average yields in excess of the
Company's target dividend yield of 7% p.a. (on the Initial Issue Price).

 

The Company's initial investments comprise Geared Ships (Handysize and
Supramax types) employed utilising a variety of employment/Charter strategies.

 

The Company intends to pay dividends on a quarterly basis with dividends
declared in January, April, July and October. The Company targets a Total NAV
Return of 10 to 12% p.a. (net of expenses and fees but excluding any tax
payable by Shareholders) over the medium to long-term.

 

The Company has the benefit of an experienced Executive Team led by Edward
Buttery. The Executive Team have to date worked closely together for the
Commercial Manager, Taylor Maritime. Established in 2014, Taylor Maritime is a
privately owned ship-owning and management business with a seasoned team that
includes the founders of dry bulk shipping company Pacific Basin Shipping
(listed in Hong Kong 2343.HK) and gas shipping company BW Epic Kosan (formerly
Epic Shipping) (listed in Oslo BWEK:NO). Taylor Maritime's team of experienced
industry professionals are based in Hong Kong and London.

 

For more information, please visit www.taylormaritimeinvestments.com
(http://www.taylormaritimeinvestments.com) .

 

About Geared Vessels

The Company specializes in the acquisition and chartering of vessels in the
Handysize and Supramax bulk carrier segments of the global shipping sector.
Geared vessels are characterised by their own loading equipment. The Handysize
market segment is particularly attractive, given the flexibility, versatility
and port accessibility of these vessels which carry necessity goods -
principally food and products related to infrastructure building - ensuring
broad diversification of fleet activity.

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